Modi: Foreigners ready to invest $100 billion in India

Modi addresses global investors' summit in MP, says states should strive to attract share of the incoming foreign investment

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Lemuel Lall

Indore

October 9, 2014

UPDATED: October 9, 2014 13:58 IST

PM Narendra Modi at global investors summit

PM Narendra Modi at global investors summit

Prime Minister Narendra Modi on Thursday said foreign investors were seeking
visas to India to make investments worth $100 billion in the country.

"One hundred billion dollars has applied for visa after my foreign visits," the PM said while inaugurating a global investors' summit in Madhya Pradesh city.

Modi called on states to make a conducive and friendly atmosphere to attract the lion's share of the $100 billion investment.

"Grab this opportunity and make the best out of it," he said.

The PM also asked the states to make a global talent bank of intellectuals living abroad. "Approach them and involve them in pushing for India's development," he said.

Underlining his priority, Modi said there was a great need to generate employment for youth. He said his government was working in this direction and said states too need to mop up resources to generate employment for young people.

"The Central and the state governments should work together in one accord to generate employment for the youth. The country's progress depends on development of states. If the focus of the Centre and the states were one - like accelerating exports - the country will witness a fast economic change," Modi said at the summit which began today amid blowing of conch shells and chanting of mantras.

Modi said exports from states too should be boosted.

He said manufacturing across the country would generate employment and tremendously enhance people's purchasing power.

"This will speed up the nation's economic development," he said.

Modi said the central government would help each state for economic prosperity.

Showering praises on MP Chief Minister Shivraj Singh Chouhan, Modi said the state had made tremendous progress under his leadership.

He said MP was a BIMARU (laggard) state 10 years ago but now it was humming with development activities with a growth rate of over 9 per cent since last two years.

"Now MP has enough power, good road connectivity and other infrastructure," he added.